Daily News 7-27-2026

A shuttered Food City along the light rail line in Tempe has been demolished to make way for a mixed-use development that will include a new grocery store and affordable housing. The site, on Apache Boulevard and Dorsey Lane, will be developed into a 400-unit apartment complex, with 90% of the units designated as affordable housing. The units will be available to people earning between 30% and 80% of the area median income, meaning a two-person household earning…»

Sprouts Farmers Market Inc., the Arizona-based grocery chain, is opening the first piece of its new headquarters campus, a flagship store in North Phoenix. The new store, which is located at 20650 N. 56th St., will open on July 24. It is located just steps away from the national grocer’s brand-new corporate headquarters, which is in a four-story, 144,500-square-foot building in the CityNorth development. The new Phoenix store is in the same footprint as all Sprouts (Nasdaq: SFM) stores…»

American businesses picked up the pace in July, but so did inflation as companies grappled with higher shipping costs, supplier delays and the fallout from the conflict in the Middle East. The S&P Global U.S. PMI Composite Output Index, a gauge of business activity across manufacturing and services sectors, rose to 53.6 in July from 51.9 in June, signaling the strongest economic momentum since November. Readings above 50 indicate expansion, while those below 50 signal…»

Strong multifamily growth pushed overall housing starts higher in June, while single-family production remained sluggish as elevated mortgage rates, rising construction costs and persistent labor shortages continued to weigh on the market. Overall housing starts increased 19% in June to a seasonally adjusted annual rate of 1.43 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The June reading of 1.43 million…»

The 30-year Treasury yield has stayed above 5% for its longest stretch since before the Global Financial Crisis, signaling that long-term borrowing costs may be resetting higher just as commercial real estate investors work through refinancing and pricing decisions. At the same time, the 10-year Treasury is hovering near its highest levels since late 2007 and Brent crude has risen above $100 a barrel, raising fresh questions about inflation, recession risk and where the cost of capital goes from…»